Where do you see more opportunities for disruption within your industry?
I think we’re still in early innings for Direct-to-Consumer (DTC). The space is evolving and organizations are getting smarter. More focus on profitability. More focus on solving big problems in consumers’ lives with great product – the combination that frees up the kind of dollar margin you need to be competitive in digital ad auctions. The space is growing up from a curiosity to a major distribution channel and problem-solver in consumers’ lives. That’s why annual revenue for these businesses is in the tens of billions and continuing to double every couple of years.
What would you define as a successful, disruptive partnership with an ad/marketing agency? Feel free to share specific examples, if possible.
I think there’s a need for more infrastructure to make it even easier for brands and agencies to collaborate, but still, this is probably the best of times (to date) for partnership. Once you have clear, metric-driven targets (CPA/LTV), it requires much less conversation between brands and agencies to determine whether a particular program has been a success or not. What’s best for brands – and, to me, the ultimate goal – is for brands to open up the opportunity to work with them to any agency that can hit their metrics targets (“here’s the target – if you hit it, then you can scale”). This is the path to getting the most creative ideas in the mix.
As technologies advance and influencers reign supreme, how are you finding new avenues to stand out in your industry?
I think people spend too much time thinking about new channels and overlook the value in thinking harder about big channels. TV sustained the growth of many Fortune 100-branded suppliers. Paid social is a comparably deep channel and effort that is often rewarded.
*Please Note: All statements are the opinion of the author and may not necessarily represent the views of The ADVERTISING Club of New York.